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TEDPIX at 3-Month High

Tehran Stock Exchange benchmark staged a broad rally on dovish signals from the ongoing nuclear talks between Iran and P5+1 to register a three-month high at Sunday's close.
The stocks rally is expected to roll on, as Sunday's upsurge helped TEDPIX gain 828.6 points or 1.24% to settle at 67,646.4 and wipe out a big chunk of losses incurred soon after the preliminary nuclear deal agreement last year.
The four-day winning streak at TSE, which has seen the TEDPIX rise about 2.8%, is based on speculations that sanctions imposed against Iran by the West over the country's nuclear energy program are about to be lifted, which would in turn see the true potential of the untapped market unleashed.
According to TSE data, the price index added 340.7 points or 1.24% to end at 27,809.2. The first market index gained 567.8 points or 1.18% to close at 48,713.9. The second market index surged 1,897.1 points or 1.37% to stand at 140,160.1. The industry index rose 684.4 points or 1.26% to 55,159.3. The free float index pulled higher 1,012.7 points or 1.32% to 77,829.3. The TSE 30 index climbed 31.1 points or 1.02% to 3,072.5 and the TSE 50 index was up 34.3 points or 1.25% to 2,778.3.
Trade volume and value posted slight increases compared to the day before, with more than 780 million shares changing hands valued at $57.9 million.
More than 79% of listed companies settled in green, with petrochemical and refining companies on top. Persian Gulf Petrochemical Industry Company outperformed and with 72.4 points provided the biggest boost to TEDPIX. Bandar Abbas Oil Refining Company and Islamic Republic of Iran Shipping Lines with close to 65 and 64 points took the second and third place respectively. Esfahan Oil Refining Company, Mobile Telecommunications Company of Iran and Bank Pasargad also had remarkable contributions to TSE's gauge.
Meanwhile, Industry and Mine Leasing Company with 1.93 points was the biggest laggard, followed by Soufian Cement Company and Kharg Petrochemical Company with 1.83 and 1.66 points respectively.

> Biggest Funding in Capital Market

In a bid to provide for the required cash flow to pay back part of its debt, Telecommunications Company of Iran is to issue participatory bonds worth more than $136 million on Monday, which is considered the biggest funding in the capital market, SENA reported.
"TCI securities will be issued as leasing bonds within one working day through Iran Fara Bourse," SENA quoted Mohaddese Razzaghi, head Novin Investment Bank's Funding Department, as saying.
"They are tradable at IFB with 21% annual interest, which will be paid on a quarterly basis," she added.
The nominal value of each security is one million rials (about $30.3) with a maturity of four years. Bank Saderat will be the guarantor, while NIB will act as market maker of the securities.

> IFX Notches 800 Points

Iran Fara Bourse benchmark IFX snagged modest gains and rose 6.72 points or 0.85% at Sunday's close to settle at 800.36.
More than 483 million securities were traded in 21,714 transactions valued at $33.51 million. Bank Day with 19.5 million shares valued at $1.29 million registered the highest trade volume and value, the IFB reported.
The highest rise in price was recorded for the shares of Zagros Petrochemical Company, Sabzevar Cement Company and Amir Kabir Petrochemical Company. ZPC and Jam Petrochemical Company gave the biggest boost to IFX.
The fixed-income market witnessed the trade of 26,120 leasing securities. Etemad Fund once again topped the list of exchange-traded funds with highest trade volume.